An Investigation Reveals that the Industrial and Commercial Bank of China (ICBC) Assisted Huawei in Urgently Repatriating $1.3 Billion.
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3 Articles
A transfer of $1.3 billion, made urgently by a London subsidiary after Huawei's indictment in the United States in early 2019, reveals the infeoation of the Chinese banking leader ICBC at the Beijing political line, according to an investigation by the International Consortium of Investigative Journalists (ICIJ).
Newtalk News: Numerous internal ICBC documents obtained by the International Consortium of Investigative Journalists (ICIJ) reveal that, days after the US Department of Justice indicted Huawei and its CFO Meng Wanzhou in 2019, ICBC's London branch assisted Huawei in transferring approximately US$1.3 billion from the UK back to Shenzhen, China. While the transaction itself was not accused of being illegal, the timing, amount, and processing of th…
Internal documents obtained by the International Consortium of Investigative Journalists (ICIJ) reveal that days after the US indictment of Huawei and Meng Wanzhou, the Industrial and Commercial Bank of China (ICBC) assisted them in transferring $1.3 billion from London, England. This incident raised concerns among internal anti-money laundering personnel, but ICBC persisted in expanding its cooperation with Huawei.
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